Which of the following is NOT a benefit of innovation in entrepreneurship?Question 6Answera.Increased competitivenessb.Cost reductionc.Risk avoidanced.Market expansion
Question
Which of the following is NOT a benefit of innovation in entrepreneurship?Question 6Answera.Increased competitivenessb.Cost reductionc.Risk avoidanced.Market expansion
Solution
The option that is NOT a benefit of innovation in entrepreneurship is c. Risk avoidance.
Innovation in entrepreneurship often involves taking risks. While successful innovation can lead to benefits such as increased competitiveness, cost reduction, and market expansion, it does not inherently avoid risk. In fact, innovation often involves stepping into the unknown and trying new approaches, which can be risky. Therefore, risk avoidance is not typically considered a direct benefit of innovation in entrepreneurship.
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